A cabinet note, doing the inter-ministerial rounds, seeks to invite views and opinions on the fire sale/normal stake sale of Air India which has accumulated a debt of Rs 52,000 crores. Air India's debt of Rs52,000 crore includes Rs 20,000 crore of aircraft-related expenditure and Rs32,000 crore of working capital debt - more than its assets of Rs 40,000 crore at the end of March 2017. Since this may discourage investors from putting their money into the airline, sources indicated that the government may be willing to absorb half of the working capital debt as part of its divestment plan. According to the note, the government is said to be considering a "strategic sale", which could mean giving up a portion of its equity along with management control or even divest its entire stake in the airline. The timing of the sale is not disclosed. It is understood that the Prime Minister's Office has insisted that no foreign investor be allowed to buy a stake in Air India. According to government regulations, domestic airlines can accept foreign direct investments of up to 49 percent from a foreign airline. Singapore Airlines thus has a 49 per cent stake in Vistara, in which Tata Sons holds the remaining 51 percent. Similarly, Malaysia-based Air Asia Berhad is invested in Air Asia India. Tata Sons has a stake in this low-cost airline, also. The airline has a fleet of 105 aircraft.